The blockchain is on the brink of becoming commonplace.
Although the blockchain and the cryptocurrencies it drives are not widely understood, the interest they have attracted over time has caused several large influential entities to decide that they must utilize the new technology. Yesterdays’ news shows that blockchain will probably be used in a broad set of applications,
The lesson and the coin
Saïd Business School, University of Oxford, has announced it will include courses on the blockchain to its executive learning programs. The courses will focus in the applications of the blockchain and the strategic impact on business decision. ‘With 80% of banks developing blockchains, and industries from law to aerospace exploring possibilities, the next 5 to 10 years will see massive disruption from blockchain adoption as jobs are automated and new industry applications are created,’ according to David Shrier, Associate Fellow at Oxford Saïd.
Next to institutions and banks, we have also seen keen interest of investors in bitcoins over the last couple of months, as it its price has gone tenfold over the space of just one year, reaching a market capitalization of over $100 billion. Hedge funds like MAN Group are awaiting a decision by the CME to offer futures contracts on the bitcoin on its futures exchange, opening the currency to a whole new set of investors.
On another topic of fintech cooperation, the FinTech Association of Hong Kong (FTAHK) has signed three memoranda of understanding with separate countries, promising to bolster initiatives to support further fintech development and also studying the option to jointly respond to national and local regulative bodies.
All these news stories show a trend where blockchain and bitcoin are being utilized and are being taught about by influential organisations. Certainly for blockchain, where so many use-cases have shown enormous potential, the level of support is steadily increasing.]]>